Oil prices edge down after 3-session rise

11/09/2025 Argaam
Oil drilling rigs

Oil drilling rigs

Oil snapped its three-session positive run and dipped today, Sept. 11, ahead of US inflation data. Investors are also monitoring whether US President Trump will take steps to punish Moscow for the ongoing war in Ukraine.

 

Trump has also expressed willingness to impose new tariffs on India and China over their purchases of Russian oil, provided the European Union does the same, in order to push Moscow to negotiate with Ukraine.

 

Brent crude was trading down 0.22% at $67.34 a barrel, at 08:01 am Makkah time. West Texas Intermediate (WTI) fell 0.24% to $63.52 a barrel.

 

Citigroup confirmed in a note its expectations that Brent crude prices will fall to below $60 a barrel by the end of this year and through 2026, Bloomberg reported.

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